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| Med Mary Stocks Rebound and Climb on DOJ Announcement |
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Company: Medical Marijuana Inc. (Pink Sheets: MJNA)
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Eric Holder Says DOJ Will Let Washington, Colorado Marijuana Laws Go Into Effect
WASHINGTON -- The United States government took a historic step back from its long-running drug war on Thursday, when Attorney General Eric Holder informed the governors of Washington and Colorado that the Department of Justice would allow the states to create a regime that would regulate and implement the ballot initiatives that legalized the use of marijuana for adults.
A Justice Department official said that Holder told the governors in a joint phone call early Thursday afternoon that the department would take a "trust but verify approach" to the state laws. DOJ is reserving its right to file a preemption lawsuit at a later date, since the states' regulation of marijuana is illegal under the Controlled Substances Act.
Deputy Attorney General James Cole also issued a three-and-a-half page memo to U.S. attorneys across the country. "The Department's guidance in this memorandum rests on its expectation that states and local governments that have enacted laws authorizing marijuana-related conduct will implement strong and effective regulatory and enforcement systems that will address the threat those state laws could pose to public safety, public health and other law enforcement interests," it reads. "A system adequate to that task must not only contain robust controls and procedures on paper; it must also be effective in practice."
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